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<br />City Council 2007-01-11, 6:30 p.m. <br />Minutes of Work Session <br /> <br />Present were Mayor Mary Capra, Council Members Michelle Lakso, Linda Broussard <br />and Tom Lee. Also present were Public Works Director Paul Palzer, Finance Director <br />John Meyer, City Attorney Kurt Glaser and Administrator Dallas Larson. Absent was <br />Council Member Jeff Paar. <br /> <br />Council discussed meeting etiquette and agreed to follow the procedures on the written <br />handout in order to foster efficiency and cooperation. <br /> <br />Council reviewed 2006 goals to evaluate what has been accomplished and if any of those <br />should be brought forward to 2007. A list of possible goals for 2007 was presented by <br />Administrator Larson. Council provided feedback on the list and added some additional <br />items. Staff will format them by category and suggest some implementation measures. <br /> <br />The third and final item on the agenda was discussion of the redevelopment of downtown <br />and more specifically the redeveloper agreement with Beard Group. Finance Director <br />Meyer reviewed a financial analysis of the project including a chart showing likely <br />contribution of tax increment financing. The project has a shortfall of about one million <br />dollars for all phases even if TIF were used for the maximum 25 year term. Any <br />additional funding from grants or other sources would reduce the length of TIF. There <br />was a consensus that the project is important enough that the longest term should be <br />supported, but every effort should be made to find other funding sources that would <br />reduce the term. <br /> <br />City Attorney Glaser reviewed the major issues associated with the development <br />agreement. He suggested that the City should authorize some legal and financial services <br />from firms specializing in these kinds of projects. He indicated that this project is worth <br />about $100 million and that a relatively small investment now could save the City many <br />times that amount. The Council agreed that specialists should be used to review the <br />agreement and financial plans. Glaser suggested that the project be reviewed at the next <br />regular council meeting with a hope to approve an agreement in February. <br /> <br />Adjourned at approximately 9:00 p.m. <br /> <br />Dallas Larson <br />City Administrator <br />